ING Groep (NYSE:ING) Cut to “Hold” at Deutsche Bank Aktiengesellschaft

ING Groep (NYSE:ING) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report released on Wednesday, Briefing.com reports.

ING Groep Price Performance

NYSE:ING opened at $16.98 on Wednesday. ING Groep has a 12-month low of $12.44 and a 12-month high of $18.72. The firm has a market capitalization of $59.40 billion, a price-to-earnings ratio of 7.50 and a beta of 1.52. The stock’s 50 day moving average price is $17.72 and its two-hundred day moving average price is $17.40. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The business had revenue of $6.15 billion during the quarter. During the same period in the prior year, the business earned $0.65 EPS. On average, analysts anticipate that ING Groep will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On ING Groep

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its holdings in shares of ING Groep by 14.0% during the 1st quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after purchasing an additional 80,398 shares during the last quarter. Capital Research Global Investors boosted its position in ING Groep by 51.2% in the first quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider’s stock valued at $3,360,000 after buying an additional 68,966 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of ING Groep during the first quarter worth $807,000. Goldman Sachs Group Inc. increased its holdings in shares of ING Groep by 7.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after buying an additional 622,037 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of ING Groep by 172.6% during the 1st quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider’s stock valued at $1,284,000 after acquiring an additional 49,307 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.